我国中小企业上市融资的法治困境与对策研究——基于北京证券交易所的思考  

Research on Dilemmas in Law and Countermeasures of Listing Financing for Chinese SMEs——from the Perspective of Beijing Stock Exchange

作　　者：李其瑞[1] 尚进 LI Qirui;SHANG Jin(Northwest University of Political Science and Law,Xi'an 710063,China)

机构地区：[1]西北政法大学,陕西西安710063

出　　处：《沿海企业与科技》2023年第3期16-22,共7页Coastal Enterprises and Science & Technology

基　　金：国家社会科学基金项目重大课题“社会主义核心价值观与法治文化建设研究”(17VHJ005)。

摘　　要：北京证券交易所(以下简称“北交所”)是为支持中小企业创新发展,深化新三板改革所成立的我国第一家公司制证券交易所,致力于打造服务创新型中小企业主阵地。中小企业作为经济发展的生力军,是目前最活跃的经济实体之一。融资问题是影响中小企业生产和发展的重要问题。上市融资将有效解决当前中小企业所面临的融资困境,而当前我国中小企业上市融资仍然存在融资结构失衡、证券市场信息不全以及少数股东利益受损等困境,导致中小企业存在银行信用等级较低、融资渠道不畅等问题。为此,北交所的成立为长期受融资问题所困扰的创新型中小企业开辟了一条新的融资途径。为了使北交所在中小企业上市融资过程中充分发挥其效用,有必要采取更新立法理念、强制简明性信息披露、加强少数股东利益保护等法治方式和法治对策,为中小企业融资筹资创造良好的金融环境。Beijing Stock Exchange(BSE),the first corporate stock exchange in China,is established to support the innovative development of small and medium-sized enterprises(SMEs)and deepen the reform of the new third-board.It is committed to creating the main platform of serving innovative SMEs.As the new force of economic development,SMEs are one of the most active economic entities at present.Financing is an important issue that affects the production and development of SMEs.Listing financing will effectively solve the current fi-nancing difficulties faced by SMEs,but at present,the imbalance of financing structure,incomplete information in the securities market,a small number shareholders being suffered and other difficulties lead to low credit rating in bank,poor financing channels and so on.Therefore,the establishment of the Beijing Stock Exchange has provided a new financing channel for innovative SMEs that have long been troubled by financing problems.In order to make the Beijing Stock Exchange give full play to its effectiveness in the process of listed financing,it is necessary to update legislative ideas and take relative measures to create a good financial environment for SMEs,such as renewing legislative ideas,forcing concise information disclosure,strengthening the protection of minority shareholders'interests and so on.

关 键 词：中小企业 上市融资 法治对策 北京证券交易所 

分 类 号：F276.3[经济管理—企业管理] F832.51[经济管理—国民经济]